Did you sell your Michigan principal residence in the last 4 years, and the tax assessed value at the time of sale was less than the year you bought the house? If so, you may be eligible for a significant tax refund from the State of Michigan. This is a complicated process and it's geared to make it difficult to obtain your refund on your own.

Eligibility for SRETT Exemption

In early July of 2015, the Michigan Supreme Court issued an expansive opinion that provides many more Michigan homeowners the right to claim an exemption from the State Real Estate Transfer Tax Act assessment. In order to claim the exemption, 3 conditions must be met at the time of sale:

  • The tax assessed value of the property (or, state equalized value “SEV”) must be lower in the year of the sale than the year in which the property was purchased.
  • The property must be claimed as the seller’s principal residence.
  • The property was sold for a price in which a willing buyer and a willing seller would arrive through arm’s length transactions.

And according to the Michigan Department of Treasury Form 2796 (Application for State Real Estate Transfer Tax (SRETT) Refund), transfer tax refunds can be applied for up to four years and 15 days from the date of sale.

The SRETT can be a significant amount of money, and should NOT be ignored. For example some refunds average $5,000.00 and that's Tax Free!

State Recovery Services can help you recover your SRETT refund

If you can answer yes to these 2 question you may qualify

Did you sell your home for a loss in the past 4 years? 

Was the home your principal residence at the time of sale?

 Take a look at real checks issued by the State of Michigan to our clients Click Here

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Help the Michigan economy and yourself by claiming your refund

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 About Us

State Recovery Services is affiliated with a Michigan Real Estate Company, specializing in assisting home owners recover money lost due to a short sale or depressed housing market. We have been helping home owners recover thousands of dollars since "2006"

We make the Michigan public aware of refund money to Michigan residents who have taken a loss on their home. Then we compile, file, and submit all Gov't paper work needed to get you your money refunded!

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